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HomeMy WebLinkAbout2046A by-law to provide for the borrowing upon debentures of $81,600.00 to defray the cost erecting and equipping an new two-room public school in School Section 6 and a two-room Public School in School Sectioin 8, in the Township of Darling ton. 2, For the purpose aforseald, the Ca-poratlon shall borrow upgn the credit of the Corporation a sum not ezoseding Zighty thousand dollars (~ib~.JO) and. shall iasw debenture therefor in aua$ of not lass than $50.00 each. Tech debenture shall have sonypons attached thereto., payable annually, for the payment of interest, rhieh shall be payable at the rates sat out in Schedule "A" hereto annezsd, vhioh Schedule "A" is hereby declared to be sad fora part of this by-lar. 2, All the debentures shall bear the same date, shall be issued at one time and vlthia two years aster the day oa vhiah this by-law is passed, beer stay date within such two years and shall b• made payable is annual instalments during the period of twenty years asst after the date of issuo thereof, and tho respective amounts of principal and latsrest payable in each of ouch years shall be the amounts so designate8 in Schedule "A" hereto annessd. 3. The debentures shall be pap~able as to both principal sad interest 1n lawful money of Canada, at the Bank of Montreal, Bovmanville, anal at the principal office of the said bank in the Cities of Toronto, Oatarlo and Montreal, Quebec. 4, The said debentures shall be sealed with the Seal of the Corporation and signed by the head of the Couaeil, or by soaps other person authorized by by-law to sign the aasN-, and by the Treasurer. Ths said interest coupoaa shall be sigaai by the Treasurer and hie signature thsreoa may bs written, stamped, lithographed or engraved. 5. Conmeneing in the year 1957~d thereafter in each year is rhich as instalment of principal of the said debt and interest bacaas due, the Corporation shall levy and raise the $A~@ifie sum shovrt for the rsspsetive year in the fourth column of the~said Schedule, Such sum shall be lovied and raised by a special rate sufPieieat therefor, over and above all other rates, upon all the property in the said Township School Area rateable for Public School purposes. 6, The said debsatures magr contain a clause providing for the registration thereof, pursuant to Section 335 of the Municipal Act, 7. Pending the sale of the said debentures, the hea8 of the Council and the Treasurer may raise for the purposes afaressid, by vary of loan oa suoh debentures, ax~y sum or soma of money sot escesding in all the eum hereby authorized to be borrowed, and may ktypothecate such debentures far such loan. RBAD a FIRST and S~COlID time this 5 day of READ a THIAl1 time, and FINALLY PA88RD, this a / ~" ~ jA,D. 1 6 ` r' i cr~xx ~ RS891' ~. . C "Ap lr1C~.L1~I x~. 20 ~ 6 soWxaxrn ax nAxLSxxxox 6q~.6po ~ ~ 1 ~ 1triQG1 $ ~F~Q~ ~ 6,6~G 8 }rOQO $~0 6~}t1' 3 3,poa $s~0i1 ~r~ ~- 3,~ 3sb6o ~ S $s000 3•~oD dsS~+ 6 ~i~ 3s~ ga950 7 3.~ 3,~ 6,~ao 9 4~s~a0 x 6,-3~ LEJ 111000 gam d#7Q4 u ~-,oco ~i7~w 6,SQo 13 ~#®00 1t~yQD 6,goti 1.3 $~tk10 ~~ 6*lA0 21- $r~ ~ 6,9G~o 35 S~OaQ Ys~ ~ 6,65ti ~ lb g~©G~0 lyM0~3 b,4o~ 17 5,~ 1,150 $,ISO 18 b,0o0 900 6,900 ~ 6,0v© 600 6,600 ~ ,~i~ .....'.~ 6.900 0 +~1rk10 ~~ .-